3-5 Help Exercise 3-5 Analyzing and preparing adjusting entries LO P1, P3 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. The middle column shows a blank space for each income statement effect of the eight adjusting entries a through g (the balance sheet part of the entries is not shown here). thicome Sta 24,000 $30,000 ions earned 2,500 14,950 , 030 Analyze the statemertsardprepare the eg t adusting entries anroughthat ikefy-e recorded Note Answer for a entries 30% of thes6o oa ui me ter Fees En ned has been earned but not biled and the other 70% has been ean ed by performing services thet wwere paid for in advance 8 3-5 Help Exercise 3-5 Analyzing and preparing adjusting entries LO P1, P3 Following are two income statements for Alexis Co. for the year ended December 31. The left number column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. The middle column shows a blank space for each income statement effect of the eight adjusting entries a through g (the balance sheet part of the entries is not shown here). thicome Sta 24,000 $30,000 ions earned 2,500 14,950 , 030 Analyze the statemertsardprepare the eg t adusting entries anroughthat ikefy-e recorded Note Answer for a entries 30% of thes6o oa ui me ter Fees En ned has been earned but not biled and the other 70% has been ean ed by performing services thet wwere paid for in advance 8